Londian Wason, a manufacturer of electrolytic copper foil, has raised $94.3 million through its initial public offering.

The company is listed on the New York Stock Exchange under the ticker symbol FOIL.

Londian Wason said it is the only copper foil manufacturer worldwide to have chosen a U.S. public listing. It has offered approximately 4.3 million American Depositary Shares (ADS) at $22 per share.

Cantor Fitzgerald & Co., Huatai Securities (USA), CMB International Capital, US Tiger Securities, Fortune Securities, BOCOM International, and VC Brokerage acted as underwriters for the offering.

On its debut trading day, the shares opened at $26, 18.18% above the offering price. The company expected net proceeds of approximately $87 million after underwriting discounts, commissions, and other offering expenses, excluding any exercise of the underwriters’ option to purchase additional ADSs.

Copper foil is used in lithium-ion batteries, copper clad laminates (CCLs), and printed circuit boards (PCBs).

Mr. WANG Guanran, Chairman and Co-Chief Executive Officer of Londian Wason: “As an industry leader, we have consistently driven the evolution of products and solutions in the copper foil industry. With the successful IPO, we look forward to continuing to advance our strategy to scale up our key product range with our ultra-thin and high-tensile performance battery foil product ranges, as well as our VLP, RTF and HVLP copper foil solutions for high-end CCL and PCB customers.”

The company’s customers include LG Energy Solution, Contemporary Amperex Technology Co., Limited (CATL), SK On, Samsung SDI, Amperex Technology Limited (ATL), and Panasonic Industrial Materials.

In 2025, Guoxia Technology, a China-based company that provides AI-driven energy storage products and renewable energy solutions, announced its listing on the main board of the Hong Kong Stock Exchange (HKEX) under the stock code 02655.HK, raising approximately $78 million.

According to Mercom’s recently released 1H 2026 Funding and M&A for Energy Storage report, announced debt and public market financing for the Energy Storage sector in 1H 2026 totaled $7.3 billion in 22 deals, a 1% decrease compared to $7.4 billion across 19 deals in 1H 2025.